Carter Bank & Trust reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net interest income of $27,784,000, total noninterest income of $3,429,000, loss before income taxes of $16,771,000, net loss of $5,071,000, loss per basic and diluted common share of $0.19 compared to the net interest income of $24,823,000, total noninterest income of $3,694,000, loss before income taxes of $7,805,000, net loss of $3,865,000, loss per basic and diluted common share of $0.15 for the same quarter a year ago. Net interest margin, on a fully taxable equivalent basis, improved 32 basis points to 2.98% over the linked quarter, on a $77.3 million lower asset base. Fourth quarter was negatively impacted by a charge of $2.8 million from the write-down of the Bank’s deferred tax assets resulting from the recent tax reform legislation. For the year, the company reported net interest income of $106,478,000, total noninterest income of $12,827,000, loss before income taxes of $18,212,000, net loss of $681,000, loss per basic and diluted common share of $0.03 compared to the net interest income of $101,040,000, total noninterest income of $12,494,000, income before income taxes of $17,624,000, net income of $15,979,000, earning per basic and diluted common share of $0.61 for the previous year. Net interest margin, on a fully taxable equivalent basis, improved 36 basis points to 2.67% year-over-year. Net interest income increased $5.4 million, or 5.4%, to $106.5 million year-over-year, on a $393.2 million lower asset base. The increase in net interest income is primarily driven by a $9.3 million decrease in interest expense during the twelve month period of 2017 as compared to the same period of 2016. This is a result of the intentional runoff of higher cost certificates of deposit. The net interest margin, on a fully taxable equivalent basis, increased 36 basis points to 2.67% over the past twelve months due to deployment of excess cash into higher yielding and diversified investment securities as well as the aforementioned runoff of higher cost deposits.